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There are many ways people describe wealth. I like R. Buckminster Fuller's definition of wealth:
'A person's ability to survive X number of days forward.'
Financially, that means how many days can you or I survive without working? Key words here being without working.
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Comments (2)
180 days give or take 30 days.
So, can I quit my job now? ($150 passive income per month :))
Posted by Leon | May 30, 2007 8:02 AM
Posted on May 30, 2007 08:02
That's the definition I like also (putting passive income in the not working slot).
That goes hand in hand with Your Money Or Your Life's definition of financial independence which is when passive income equals or exceeds expenses.
Posted by Kimber | May 30, 2007 8:27 AM
Posted on May 30, 2007 08:27